Most Asian stocks fell as investors weighed corporate earnings before the release of U.S. non-farm payrolls today.
The
MSCI Asia Pacific Index was little changed at 137.99 as of 9:04 a.m,
with two stocks falling for each that rose. The gauge is heading for its
second weekly decline after a gauge of Chinese manufacturing increased
less than economists projected. While a report yesterday showed jobless
claims in the U.S. jumped to a nine-week high, employment data due today
is expected to show an improving labor market.
Japans
Topix index slipped 0.1 percent. South Korea��s Kospi index rose 0.2
percent as it reopened after a holiday. Australia��s S&P/ASX 200
Index lost 0.1 percent and New Zealand��s NZX 50 Index added 0.1
percent. Markets in mainland China are closed for a holiday, while Hong
Kong, which has yet to start trading, reopens after the May Day holiday.
Companies
from Asahi Group Holdings Ltd. to Sembcorp Marine Ltd. are due to
release results today. Sony Corp., maker of Xperia smartphones and
PlayStation consoles yesterday reported an annual loss that was larger
than forecast, while Wynn Macau Ltd., controlled by billionaire Steve
Wynn, posted first-quarter profit that beat analyst estimates.
The
MSCI Asia Pacific Index traded at 12.6 times estimated earnings
yesterday, compared with 16 for the Standard & Poors 500 Index,
according to data compiled by Bloomberg.
Copy Source: Bloomberg
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